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Rental relocation service announces new $450k investment

Rental relocation service announces new $450k investment

Transfercar, the free rental car company, has announced a new round of investment from entrepreneur Dennis Round. The NZ$450,000 funds are combination of private equity and loan.

Transfercar, the free rental car company, has announced a new round of investment from entrepreneur Dennis Round. The NZ$450,000 funds are combination of private equity and loan.

The money will be used to fund a US launch for the business as well as additional revenue streams and continued development of the web application.

Dennis Round will join the firm as global Sales Director. He founded Violation Management Services in New York in 2001 and has since grown it to be the leading global company for managing traffic violations in the car rental and leasing industries."

Brian Karlson, CEO said “We’re delighted to strengthen the team with Dennis’ long experience in the automotive industry. His US expertise will be critical as we move into the next phase of Transfercar’s growth.”

Dennis Round added “This is a fantastic new challenge for me personally and I’m very much looking forward to driving Transfercar towards becoming the industry’s preferred choice of relocation partner.”

Founded in 2008, the firm previously took investment from Norwegian angel investor, Nils August Andresen, of NZ$150,000 during February 2008.

Transfercar runs rental car relocation websites for customers in USA, Australia and New Zealand.

About Transfercar
Transfercar helps people and rental car companies make and save money on under-used rental cars.

Rental operators need to relocate cars between their branches in order to position their fleet for new hires. Transfercar facilitates contact between rental operators that need to relocate their vehicles, and travellers who would like to drive their cars free of charge.

The rental operators submit their relocations to Transfercar using the web or integrations with fleet management systems. Prospective drivers then request the relocations through the website, mobile phones or email. The Transfercar solution delivers financial benefits to both rental car companies and flexible travellers.

Transfercar USA www.transfercarus.com
Transfercar Australia www.transfercar.com.au/
Transfercar New Zealand www.transfercar.co.nz/

ENDS

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